Hello, livers of Arztoday🙄
As we said in the technical analysis of Chiles (CHZ) on November 26, 1401. Due to the change in nature from the upward trend to the downward trend drawn with BOS on the chart. Chiles (CHZ) price was expected to fall below the $0.15 support zone (Bear Trend). Also, this drop has reacted to the support zone of $0.1 (Demand zone).
Due to the insignificant activity of whales and retail traders, we will realize the decrease in the inventory of investors and the calmer demand by retail traders. Despite this, the whale population in Chiles network has increased significantly.
Currently, technically, if the price can stay above the $0.1 level. It is expected to grow up to the resistance range of $0.13 to $0.15, which if this range is broken upwards, the bearish trend has changed to bullish, and we can look for higher targets.
Otherwise, if the $0.1 support area is lost, there will be strong selling pressure, and the FVG area, which is at the $0.08 level, will attract the price like a magnet. (Scenario with more probability)
The ranges of $0.07 and $0.05 can serve as reversal and support areas for this cryptocurrency.
Arztoday Team 💙
Analyzer ✍: AR.Rashidi
As we said in the technical analysis of Chiles (CHZ) on November 26, 1401. Due to the change in nature from the upward trend to the downward trend drawn with BOS on the chart. Chiles (CHZ) price was expected to fall below the $0.15 support zone (Bear Trend). Also, this drop has reacted to the support zone of $0.1 (Demand zone).
Due to the insignificant activity of whales and retail traders, we will realize the decrease in the inventory of investors and the calmer demand by retail traders. Despite this, the whale population in Chiles network has increased significantly.
Currently, technically, if the price can stay above the $0.1 level. It is expected to grow up to the resistance range of $0.13 to $0.15, which if this range is broken upwards, the bearish trend has changed to bullish, and we can look for higher targets.
Otherwise, if the $0.1 support area is lost, there will be strong selling pressure, and the FVG area, which is at the $0.08 level, will attract the price like a magnet. (Scenario with more probability)
The ranges of $0.07 and $0.05 can serve as reversal and support areas for this cryptocurrency.
Arztoday Team 💙
Analyzer ✍: AR.Rashidi
